Live Currency Rates
 
  Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Deep Yellow increases iron resource at Namibian project  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 18/12/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - ProactiveInvestors - Australia) Deep Yellow (ASX: DYL) has increased the December 2011 Inferred Resource for the Shiyela Iron Project in Namibia by 36.4 million tonnes to 115.1 million tonnes at an enhanced grade of 19.5% iron.

The resource update was completed by Golder Associates Pty Ltd (Perth).

Almost 80% of the M62 magnetite deposit has been upgraded to Indicated Resources, while for M63 about 10% of the mineralisation has been classified as Indicated Resources.

The magnetite-dominant M62 deposit, capable of producing a 68% iron product, has an Indicated and Inferred Resource of 44.7 million tonnes at 17.3% iron and overall weight recovery of 16.37%.

A satellite deposit to M62, known as M62R, has an Inferred Resource of 9.3 million tonnes at 16.3% iron with an overall weight recovery of 17.4%.

The mixed magnetite-hematite M63 deposit, capable of producing a 63.8% iron product, has an Indicated and Inferred Resource of 61.2 million tonnes at 21.6% iron with an overall weight recovery of 28.9%.

Metallurgical testwork by Mintrex Pty Ltd has enabled a more cost effective plant design which will recover both magnetite and hematite fractions.

The additional testwork provided the information required for an improved flowsheet design that will allow the recovery of both magnetite and hematite.

The magnetite is recovered to a product grade of 68% iron and the hematite to a grade of 61% iton. It is expected that up to 85% of the contained iron will be recovered.

Deep Yellow managing director, Greg Cochran, commented: "We have now advanced our understanding of the Shiyela Iron Project through this comprehensive drill and metallurgical testwork campaign.

"We are a lot closer to our initial expectations and firmly believe that the project can now, under the right circumstances, be taken to the next step in its development."

The resource update is based on results obtained from a PQ core drilling campaign completed earlier this year and additional metallurgical testwork; Davis Tube Recovery and Davis Tube Concentrate assays on the magnetite domain samples and Fusion X-ray Fluorescence assays on hematite domain samples.

The Shiyela Iron Project is held by Shiyela Iron (Pty) Ltd, a 95% owned subsidiary of Deep Yellow and the company's Namibian empowerment partner Oponona Investments (Pty) Ltd (5%).

The project is located entirely within EPL 3496 which is held by Deep Yellow's wholly owned Namibian subsidiary Reptile Uranium Namibia (Pty) Ltd.

Shiyela Iron was recently provided with a Notice of Preparedness to Grant a Mining Licence (MLA176) by the Ministry of Mines and Energy of the Republic of Namibia.

 






  MENA News Headlines


 
Live Currency Rates






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help